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News and Information Article
SANTA BARBARA, Calif., Sept. 25 // -- NGEN Partners is
pleased to announce the closing of its second venture fund, NGEN II, L.P.,
in the amount of $180 million. Due to high demand from both new and
returning investors, the fund was over-subscribed.
According to Peter Grubstein, the firms managing partner, "I am very
proud of the quality of our investor syndicate which includes some of the
most respected pensions, institutions, corporations, family offices and
foundations. We now look forward to forging new relationships with top
flight entrepreneurs and other venture investors in our field with the
assistance of this remarkable group. With more than a quarter billion under
management, we anticipate expanding our investment staff in response to the
larger fund size and the growing number of opportunities in our areas of
focus."
NGEN invests in companies that utilizes clean and sustainable
technologies that are primarily enabled by advances in materials science.
The firm has deep domain expertise in this field with an established
portfolio and track record in the areas of alternative energy, pollution
abatement, solid state lighting, green buildings, and water. The firm
targets early to mid stage companies where functional prototypes and
customer interest validate product viability.
The firm has already made several investments from the new fund
including photovoltaic concentrating companies SolFocus and Solaria, and
Hycrete, a green building materials company.
NGEN is headquartered in Santa Barbara, CA with offices in Silicon
Valley and New York City. For more information, please refer to the firms
web site at http://www.ngenpartners.com.
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